Sorenson Ventures seeks $100m for second fund

Sorenson Ventures seeks to raise $100m for its second fund, nearly two years after it closed its inaugural effort at $110m.

Sorenson Ventures is seeking to raise $100 million for its sophomore fund, according to a regulatory filing. The firm similarly had a $100 million target for Fund I, but closed on $110 million for its inaugural effort in early 2019. Sorenson Ventures, which was formed in 2017, invests in early-stage enterprise software and security start-ups. The fund is managed by Intel Capital veterans Ken Elefant and Rob Rueckert and was spun out of Utah growth-equity and buyout firm Sorenson Capital. Sorenson Ventures has offices in Lehi, Utah, and Palo Alto, California.